Oregon

Cascade Bancorp in Bend, Ore., has been given another two weeks to find the additional capital its lead investors are requiring.

PremierWest Bancorp in Medford, Ore., said Tuesday that Nasdaq gave it more time to comply with the market's listing requirements.

Pacific West Bank in West Linn, Ore., plans to raise up to $4.5 million of fresh capital. The $72.6 million-asset company has been operating under a regulatory order requiring it to boost capital and maintain higher capital ratios as a cushion against future loan losses.

Cascade Bancorp's lead investors are giving the company two more weeks to find additional capital.

The $72 million-asset bank announced late Tuesday that last month it sold $1.7 million, about a quarter of the $6.9 million of nonperforming assets it had at the end of the second quarter. An additional $907,000 of nonperformers are expected to close this month.

Cascade Bancorp in Bend, Ore., has filed a lawsuit against Cohen & Co. Financial Management, alleging that the investment firm is holding up a capital-raising effort on which Cascade's future depends.

Five bank closures in four states Friday cost the federal government an additional $334 million in losses.

A friendly rivalry in Oregon turned nasty when a tiny bank tried to acquire a neighbor through a seldom-used maneuver: the hostile takeover bid.

The Medford, Ore., company raised $18.7 million in a rights offering in March and $14.6 million in a public offering in April. Yet it warned when announcing its second-quarter results late last week that it needs even more capital to comply with an enforcement action.

WASHINGTON — Federal and state regulators shut seven banks late Friday, pushing the failure total this year to 103. Though the pace of failures briefly slowed earlier this month, it appears to be picking up momentum again, as Friday's failures followed six last week.

After raising $172.9 million of capital in nine months, West Coast Bancorp said regulators have terminated the cease-and-desist order under which it had been operating.

After flying under the radar for much of the recession, the Pacific Northwest has been hit with a string of failures — and more choppiness lies ahead.

Federal regulators have given PremierWest Bancorp in Medford, Ore., 60 days to come up with a capital plan even though the company raised capital in the first quarter.

The owner of a bank in Oregon cannot pay dividends without prior Federal Reserve approval. The Fed on Wednesday released its agreement with PremierWest Bancorp, which owns PremierWest Bank in Medford, Ore.

Cascade Bancorp's lead investors are giving the Bend, Ore., company more time to find additional capital.

PremierWest Bancorp in Medford, Ore., narrowed losses and reduced chargeoffs in the first quarter, the company reported Thursday.

The Federal Deposit Insurance Corp.'s board voted Tuesday to extend by six months its program offering unlimited deposit insurance for business accounts, a sign that it remains concerned about the health of community banks.

Pacific West Bank in West Linn, Ore., has accepted a consent order with federal and state regulators requiring it to strengthen capital and address asset-quality deterioration, the bank has announced.

PremierWest Bancorp in Medford, Ore., has succeeded in recapitalizing its bank, though a fresh regulatory order has pushed back the target.

A credit union public funds bill has been signed into law by Oregon Gov. Ted Kulongoski, removing a $250,000 ceiling on public fund deposits a credit union can hold.